If you use a mobile app to do any of your banking you might want to be a little more cautious. Hackers have now figured out how to tap into your mobile banking security system to steal personal and sensitive information.
Many banks began sending out one time SMS text message codes to customers to use in conjunction with their passwords to log into their accounts. There is now software that is available to hackers that will allow them to steal the code in real time as it is being sent from the bank’s system to your phone.
Researchers have announce that there are at least two new malware programs that mainly target users of Google’s Android phones. These programs are masking themselves as official bank apps and replacing the original app that you have stored on your phone. So when you log into what you think is your account, you are actually logging into a hacked replacement. Once you enter all of your personal info, it then sends it all to the criminals to do whatever they like.
Overall, the number of malware programs attacking mobile users continues to skyrocket. McAfee researchers collected samples of more than 30,000 malicious mobile apps in the first half of 2013, almost exceeding the 35,000 apps seen in all of 2012.
Virtually all of the software attacks smartphones running Google’s Android operating system, mostly through unofficial app sites. Android users can install security software just like PC users to protect their phones, including several apps made by McAfee, a unit of Intel (INTC).
Hackers mainly rely on the unofficial app stores as Google has taken steps to make its Play store more secure. Android phones can easily install apps from beyond the official channel, however. That’s common practice in China, India and Japan.
It is a little harder for users of Apple’s iPhone to get hacked because their phones do not allow third party apps to be easily installed. Apple has installed security measures that make it virtually impossible to get a third party app into their app store.
Thieves have also come up with a way to lock your device and demand payment in order for it to be restored. This is being called “ransomware” Macafee found over 32,000 instances where in the second quarter of last year alone. So far in 2013 the amount of ransomware has surpassed all previous periods of time combined. So even if you are inputting your name, password, and other security question beware because hackers can still get to your personal and private info.
If you think your banking info has been compromised, call your bank and speak with someone immediately. As someone who has been the bamboozled by thieves looking to make a quick buck I know that this should not be taken lightly.